| | NOVEMBER 202019CIOReviewoptimize payables working capital. The company sponsored a workshop with leadership from procurement, finance, and treasury and aligned on a three-year optimization strategy. In this strategy, The Bavelos Group was engaged to manage an early pay program and help extend payment terms with the rollout of supply chain finance. These strategies helped the organization achieve over $2 million of annual savings from early pay discounts and $50 million of new working capital per billion of targeted spend. And by expanding supplier access to lower-cost capital, these initiatives helped the company strengthen its supplier relationships and create a more financially resilient and competitive supply chain. Glassanos believes innovation and experience are the prime factors that put the company ahead in the marketplace. He remarks, "The Bavelos team invented key innovations like dynamic discounting and helped pioneer the rollout of supply chain finance with top banks." By applying these practices in a service-only company, Bavelos helps its clients achieve world-class results, without the burden of software or IT requirements. This makes working capital optimization an easy lift with fast, agile, and cost-effective solutions for its clients. With these unique value propositions, The Bavelos Group looks forward to continued innovations in working capital optimization to help drive financial efficiency in supply chains worldwide. The Bavelos team invented key innovations like dynamic discounting and helped pioneer the rollout of supply chain finance with top banks
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